Business Intelligence (BI) is currently considered as cutting-edge technology. Its use concerns the utilization of data from files of information systems of a company’s back-office, with the aim to process and display complex results that support decision making.
The term Business Intelligence (BI) refers to the use of methods which process and analyze critical business data located in a very large database (Data Warehouse – DW) and which either propose or facilitate business decision. In other words, it represents a methodology that uses statistical analysis and rules that support conclusions. These systems are also called Decision Support Systems (DSS). Examples of applications that constitute BI are, inter alia, data mining applications, text mining, reporting tools and Analytical Processing (OLAP). At this point, we should emphasize that we always talk about methods and not specific tools. The tools are the building blocks of the methods followed.
A Data Warehouse does not require the existence of BI methods. In contrast, BI requires if not a Data Warehouse, then certainly a large database.
One of the last products that OnLine Data created in Greece is Business Intelligence (BI), the pinnacle of intelligent Information Systems. It is a system which allows direct information management by the businessman, with free selection of the items that wants to display or export in statistics and graphs. Business Intelligence is the necessary tool for direct decision making and complete business management. It is the key that offers various features in decision-making, which are critical for the assurance and expansion of the sales cycle in a company as well as the elicitation of important information of administrative concern and control.
The real power of Business Intelligence is the ability of the users’ instant access to strategic information, without the intervention of the IT department or the Software Company. Limitless statistical statements and illustrations are created exclusively by the user and are shared to all business levels required.
BI uses technology in order to achieve effective entrepreneurship from the inwardness of the organization. “Inwardness” is any factor or information that shapes an effective image in the organization. BI allows “smart” users to produce new information from the existing ones. In this way, they can deal with various problems, without being dependent on external analysts.
OnLine Data has created the unique Business Intelligence (BI) tool, under the scope of the following parameters:
- Real time display into the business activities and objectives
- User defined integrated and autonomous presentations
- Access to data anytime, anywhere
This data presentation comes in two forms:
- List Form (Reporting)
- Statistics Form (Pies, Charts etc)
What a Business Intelligence system offers:
- Tracking of the progress and the achievable goals of the enterprise
- Expansion of the business competitive advantages, through smarter and faster decision making
- Knowledge of the resources’ operations and of their efficient use